Tuesday, March 7, 2017

The Monthly Performance Insight: All Sorts of Digital Management Scoreboard and Dashboard Mar. 2017

The well-designed scoreboard and dashboard help management making the information-based decisions and improving its effectiveness and efficiency.

Corporate Performance Management is a management control from strategy till shop floor. "If you can't measure, you can't manage," legendary management guru Peter Drucker once asserted. He was right Managing performance means understanding results, setting metrics, fixing plans, and making decisions to ensure it happens. It takes multifaceted approaches from multidimensional perspectives.

     



All Sorts of Management Scoreboards and Dashboards



Scoreboard vs. Dashboard? The balanced scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. In management information systems, a dashboard is "an easy to read, often single page, with the real-time user interface, showing a graphical presentation of the current status (snapshot) and historical trends of an organization’s key performance indicators to enable instantaneous and informed decisions to be made at a glance.


What is on your Digital Transformation Scoreboard Forward-looking organizations are on the journey of digital transformation. How would you calculate the digital maturity score of your organization? Which management metrics should you apply to measure the progress of changes? Proactive or reactive? On the track or too slow? Healthy or sick? The balanced scorecard is a strategy performance management tool that can be used by managers to keep track of the execution of activities by the staff to monitor the consequences arising from these actions. So, what are on your digital transformation scoreboard?


What’s the First Step in Building a Great Performance Dashboard A performance dashboard is a useful tool to improve management effectiveness and efficiency, but what’s the simple first step enables you to implement useful Performance Dashboards, that ‘ideally’ from day one delivers high-quality performance management information?


An Innovator’s Scoreboard Innovation is about transforming novel ideas into business values. Innovation score means an attempt to measure innovation; so the factors included in any scoring system will depend on what you are looking to evaluate (individual vs. organization? potential vs. past performance?), this is usually done through innovation indicators. What’re the pros and cons of measuring innovation and score innovators?


The CIO's Dashboard  A well-designed dashboard is an effective management tool to enable business leaders to make a better decision, from IT management perspective; a dashboard should present the topics that you manage. CIOs should ask themselves what are IT business objectives towards your organizational strategy. Then, translate it to smart KPIs. Smart is in a sense of how to cover all important business objectives, but not too many KPIs, to measure the progress, and not only the final result, to show the status at a glance without the need to drill down too much and so on. Typically, CIOs would need to remain on top of various parameters such as costs, production Issues (especially business critical applications), risks, technology, customer, long-term business transformation, etc. A comprehensive CIO Dashboard should include the IT management quadrants with a combination of following aspects.


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